v3.26.1
INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
INTANGIBLE ASSETS

NOTE 8 – INTANGIBLE ASSETS

 

Intangible assets represent legal fees and patent fees associated with the prosecution of patent applications. The Company has recorded amortization expense on patents granted, which are amortized over the remaining legal life. Maintenance patent fees are paid to a government patent authority to maintain a granted patent in force. Some countries require the payment of maintenance fees for pending patent applications. Maintenance fees paid after a patent is granted are expensed, as these are considered ongoing costs to “maintain a patent”. Maintenance fees paid prior to a patent grant date are capitalized to patent costs, as these are considered “patent application costs”. No amortization expense is recorded for remaining patent applications since patents on these applications have yet to be granted.

 

Intangible assets consist of the following:

Schedule of intangible assets         
   June 30, 2026   December 31, 2025 
         
Patents  $2,296,819   $2,187,191 
Less: Accumulated amortization   417,462    473,771 
           
Intangible assets, net  $1,879,357   $1,713,420 

 

Amortization expense for the three months ended June 30, 2026, and 2025 was $19,260 and $26,901, respectively. Amortization expense for the six months ended June 30, 2026 and 2025 was $37,782 and $53,409, respectively. During the six months ended June 30, 2026, the Company retired certain expired patents with a cost of $135,770 and accumulated amortization of $94,091 for a loss of $41,679. During the three months ended June 30, 2026, the Company retired certain expired patent applications with a cost of $5,270 for a loss of $5,270. There were no patent costs written off for the three and six months ended June 30, 2025.